'Fox & Friends' Clayton Morris Teaches Families How to Build Legacy Wealth
When I was transitioning my life from Bergen County, New Jersey, to the shoreline of Connecticut, I ventured down an unknown path that led me into the world of 'real estate rental investment'. Specifically put, I decided to rent my NJ residence out while moving into my new digs. So proud was I of my brainstorm that I never fully considered what could possibly go wrong! The result? Let me just say that “Nightmare on Elm Street” paled in comparison to what turned up on my doorstep and stayed with me for months thereafter.
Needless-to-say, the financial ramifications and strain of the eviction process I was required to undertake compelled me to vow to never step foot in the real estate rental investment marketplace again, and I’ve stuck to that decision ever since. I hasten to guess, however, that the bad taste left in my mouth from the entire experience would have been avoided, altogether, had I placed my rental property in the capable hands of Clayton Morris and his team at Morris Invest.
You probably know Clayton Morris as one of the weekend anchors of Fox & Friends, but did you also know that he is a real estate rental investment guru, who has created a one-stop-shopping experience for anyone who wants to get into the real estate rental investment marketplace without losing their shirts? Yup. This Fox News personality is as clever as a fox when it comes to creating legacy wealth through real estate rental investment, folks, and he is eager to help you do the same through his company, blog, podcast and interview below.
What is your personal mantra?
I want to help people achieve financial freedom while overcoming damaging fears that prevent them from accumulating legacy wealth for their families.
Share a bit about your personal background.
I grew up being taught ideas about money that were quite limiting to the magnitude of wealth I could create for myself. It took a long time for me to retrain my brain to see money as a “positive”. Money is not evil. It can help float many boats if you see the true value in it beyond the obvious.
Most people know you as one of the weekend anchors of Fox & Friends. Share the highlight of that job as well as being part of the Fox News organization, overall.
When Fox & Friends hired me, they had one requirement. They wanted me to be “myself.” I loved that. So now, I get to be myself, have fun, and call attention to great stories. I don’t have to put on any kind of facade.
You are also a seasoned real estate investor. When did your foray into real estate begin and what compelled you to dive into the rental real estate marketplace as an investor?
When I began having kids, I began focusing on building legacy wealth for my kids. I found real estate to be the most honest, straight-forward, and clear cut way to create that wealth.
Share the learning curve you endured to become the savvy real estate investor you are today, including the most painful as well as the best lessons you learn along the way.
My learning curve was long and arduous. I got involved in the real estate rental investment marketplace right before the real estate bust. I learned numerous tough lessons until I came up with a formula that worked for me -- buying single family homes. I buy them, renovate them and rent them. I try to make my rentals a “win-win” for everyone.
Explain the Freedom Number.
One day, my wife told me that we were not going to be able to pay the mortgage during a particular month. My expenses were drowning me. I decided to take action. I figured out the number I needed to make to cover my monthly expenses and matched it with the number of rental properties I needed to buy to make that number. I termed that number my “Freedom Number”. Once I put that plan into action, I achieved financial freedom for my family.
Share the top three benefits of owning rental real estate as well as the top three challenges.
The benefits are ‘increased cash flow, increased financial freedom and leverage, and vast tax advantages’. The challenges are ‘changing the mindset of new real estate investors, eliminating the notion that investment money isn’t available to new investors, and teaching new investors where to look for great deals’.
What are some of your “go to” resources to keep up-to-date on real estate investing and the real estate marketplace, overall?
I read as many new real estate stories as possible alongside market-based stories (interest rates), crime rates reports, vacancy rate reports, etc. And I read them as an investor as opposed to a buyer who is going to make that residence his or her home.
You blog regularly about real estate rental investing and share those blog posts through Linkedin. Where else might readers and potential investors learn from you?
The best place to find me would be my company site -- MorrisInvest.com.
Share a social cause close to your heart.
I am extremely passionate about the work the Heraion Foundation is doing to combat sex trafficking and support communities at the front lines. I’ve become close with some of the men that returned from deployments disillusioned by the trafficking of young girls by terrorists. These men track these terrorists down to help stop this. They are heroes.
When all is said and done, how do you want to be remembered?
As a loving husband and father, who remained ‘present’ with my family during the moments we could be together. As a role model with for my children. And as a man who made time for people and left this world a little better than when I came in.
Did I mention that Clayton Morris is genuinely a heck of a nice guy too. I found it difficult to limit our conversation to the time period I had, originally, arranged -- so enjoyable and informative was he. When I, finally, did begin closing the door on our discussion, Clayton informed me that he would be coming out with a new book later on in the year, one which teaches homeowners how to pay off their mortgages within three years. Suffice-it-to-say, the door swung wide open again. I will be laying out the welcome mat for that book in a future issue of THREAD MB. In the meantime, I urge you to invest sometime in familiarizing yourself with Clayton Morris, Morris Invest and also Fox & Friends. I promise you, this is one piece of investment advice where you can’t go wrong.
Many thanks to Clayton Morris for making this interview possible